The right location can fundamentally alter the growth strategy for your business. Class A commercial office space demonstrates a long-term commitment of excellence to your clients as well as your employees. Therefore, selecting the right location becomes a critical decision.
It’s not just hyperbole. Manhattan has nearly 50,000 buildings, 241 million square feet of which represent office space. It is home to 250,000 different companies, and 491 of them are publicly listed corporations. This is the simple reason why your location, the building and specific arrangements with your landlord – all matter. Correctly positioning your business is the key.
Metro Manhattan Office Space proudly brings you 18 years of exclusive commercial real estate experience to the table. We know this city’s building inventory, we know the specifics of hundreds of landlords, we understand the significance of city locations – and most importantly, we understand the requirements of our clients.
Whether you are a private equity firm, a hedge fund, or a national law firm – we encourage you to contact us or call 1 (212) 444-2241 to discuss your particular business needs within Manhattan. We are here to help you create a winning strategy for acquiring great office space for your corporation.
Benefits of Class A Midtown Manhattan office space
In general, the largest everyday difference your clients and employees will experience in a Class A building, is the amount and quality of available building amenities. An impressive and professional lobby, high building security, multiple high-speed elevators, fast and reliable connectivity, quiet and effective HVAC systems, gyms and break areas for employees, bicycle storage, outdoor spaces, high-end restaurants within the building for casual meetings – and many others.
Class A buildings make it easier to build lasting relationships with your clients.
Midtown Manhattan is home to some of the most prestigious and iconic skyscrapers in the world, many of which will grant incredible views out of your corporate office. Average rents for Class A Midtown properties range from $100 to $200 per square foot.
Today, we are presenting you with a Top 10 list of what we consider to be the best commercial office buildings in Midtown Manhattan, along with key information that you may find useful when deciding on where to place or expand your business:
1. One Vanderbilt
This 1.8 million-square-foot One Vanderbilt is the crown jewel of Midtown Manhattan and the most significant new commercial development to rise in the Grand Central submarket. The 93-story tower was completed in 2020, and the project cost a whopping $1.4 billion. Situated right next to Grand Central Terminal, the building features best-in-class amenities, including an outdoor terrace, a 30,000-square-foot tenant-exclusive amenity floor, floor-to-ceiling windows, column-free office space, and much more. The ground floor houses a world-class restaurant, Le Pavillon, led by Chef Daniel Boulud.
Tenants: Sentinel, TD Bank, Greenberg Traurig, McDermot Will & Emery
Average asking rent: ~$100-$150 per square foot
2. The Empire State Building
One of the most recognizable staples on the Manhattan skyline, The Empire State Building needs no introduction. The 2.3 million-square-foot landmark at 350 Fifth Avenue was completed in 1931 and is one of the most desirable properties for companies looking for trophy office space for lease. Amenities at the iconic tower include a 15,000-square-foot fitness center, a tenant-exclusive conference center, state-of-the-art building infrastructure, and eight on-site dining options, including the STATE Grill and Bar and Tacombi.
Tenants: LinkedIn, Skanska, Shutterstock, CBS Radio, CB Alliance, Qatar Airways
Average asking rent: ~$60-$80 per square foot
3. The Graybar Building
This 30-story Class A office property at 420 Lexington Avenue, also known as the Graybar Building, is an ideal destination for tenants looking for trophy office space in an excellent location close to Grand Central Terminal. The 1.2 million-square-foot building is owned and managed by SL Green, one of NYC’s top landlords, and was fully renovated in the early 2000s. Amenities include a messenger center, 32 passenger elevators, state-of-the-art HVAC, direct access to Grand Central Terminal, and LEED Gold certification for energy efficiency.
Tenants: New York Life, the Metropolitan Transportation Authority, State Farm, Vanbarton Group, SL Green, Standard Insurance
Average asking rent: ~$70 per square foot
4. The General Motors Building
The GM Building was completed in 1968 and features close to 1.8 million square feet of trophy Manhattan office space. It’s one of the largest buildings in the city, conveniently located at the southeast corner of Central Park between Fifth and Madison Avenues, in the heart of the coveted Plaza District. The building was upgraded and renovated several times over the years and features best-in-class amenities, including a street-level public plaza with 65-foot-long fountains and marble. The ground floor is home to the now-iconic Apple ‘Cube’ Store, which opened in 2006.
Tenants: Estee Lauder, General Motors, Macklowe Properties, U.S. Trust, Maverick Capital, Weil, Apple
Average asking rent: ~$100-$150 per square foot
5. 50 Hudson Yards
This 2.9 million-square-foot 50 Hudson Yards is the fourth-largest commercial office tower in the city, taking up an entire block. The 58-story tower is scheduled for completion in late 2022; it will be one of few buildings in the area to accommodate over 500 employees per floor. It’s an ideal destination for corporations and companies looking to expand, and it comes with a myriad of ultra-modern amenities. Tenants enjoy views of the Hudson River and the Vessel, outdoor terraces, private sky lobbies, a porte-cochere, and valet parking, among many other amenities. Office floor plates feature floor-to-ceiling windows and up to 60,000 contiguous square feet.
Tenants: Facebook, BlackRock, Debevoise & Plimpton
Average asking rent: ~$100 per square foot
6. 30 Rockefeller Plaza
30 Rockefeller Plaza, also known as 30 Rock, is one of the most well-known properties on the NYC skyline. The 2.5 million-square-foot tower was completed in 1932 and houses the famous outdoor skating rink, the ‘Top of the Rock’ observation deck, and SNL and 30 Rock studios. Building owner Tishman Speyer renovated the tower in 2014, bringing it to modern standards that appeal to modern office tenants. Amenities include an impressive lobby, garage parking, and direct access to a 70,000-square-foot underground shopping concourse. 30 Rock is a highly coveted destination for media, communications, law, and financial services businesses.
Tenants: NBCUniversal, Tishman Speyer, Deloitte, Oxygen Media, Starbucks, J. Crew
Average asking rent: ~$90-$100 per square foot
7. 3 Times Square
The Reuters Building at 3 Times Square is an 860,000-square-foot trophy Class A office tower built in 2000. The building is located right in the heart of the buzzing Times Square submarket and is home to Thomson Reuters’ headquarters. Amenities include energy-efficient glass, column-free office space, above-standard ceiling heights, and proximity to numerous shopping and dining destinations. It also boasts terraces on select floors. Floor plates range from 28,000 to 35,000 square feet.
Tenants: Thomson Reuters, Chase Bank, Bain & Company, the Bank of Montreal
Average asking rent: ~$80-$100 per square foot
8. 3 Columbus Circle
Completed in 1927, the 625,000-square-foot tower at 3 Columbus Circle is conveniently located in one of the busiest parts of Midtown. The 26-story building takes up an entire square block and sits right across the street from Central Park and the Time Warner Center. 3 Columbus Circle was fully renovated in 2011 by Gensler and offers 24/7 access and security, views of the Manhattan skyline, a full-time lobby attendant, USPS drop-off, and outdoor terraces.
Tenants: Jazz at Lincoln Center, Moinian Group, Versace, Young & Rubicam Group, Chase Bank, Nordstrom
Average asking rent: ~$80-$90 per square foot
9. 441 Ninth Avenue
This 700,000-square-foot office tower at 441 Ninth Avenue was built in 1982 and is also known as Hudson Commons. Initially, the property served as an industrial warehouse but was later converted to Class A office space and expanded to include an additional 280,000 square feet of commercial space. Amenities include floor-to-ceiling windows, 14 terraces and balconies, efficient floor plates, mushroom-capped columns, on-site parking and event space, and floor plates ranging from 16,000 to 50,000 square feet. The tower sold for more than $1 billion in late 2021, in NYC’s largest investment sale since June 2019.
Tenants: Lyft, Peloton, Brevet Capital Management, True, Ovid Therapeutics, Fireblocks
Average asking rent: ~$100 per square foot
10. The Chrysler Building
The Chrysler Building is one of the most prestigious skyscrapers in New York City and one of the most desirable destinations for office-using companies. The 1.1 million-square-foot Art Deco office tower is a National Historic Landmark and offers Class A, LEED Gold-certified office space in the heart of the Grand Central submarket. It was fully renovated in 2000 and features amenities like 24/7 access and security, a concierge-attended lobby, direct access to Grand Central Station, and energy-efficient systems and central HVAC.
Tenants: Moses & Singer, A&L Goodbody, Northstar Group, Kimco Realty, Columbia University, Memorial Sloan Kettering Cancer Center, Time Inc., Regus
Average asking rent: ~$60 per square foot
Are you thinking of relocating your business to a convenient Manhattan location? Are you looking to lease space in a modern building offering state-of-the-art amenities? Then reach out to us and we will show you worthwhile space in the heart of New York City. To learn about available office space, call Metro Manhattan Office Space at (212) 444-2241 or email us at [email protected].